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Saderat Bank of Iran to support domestic production of methanol

Business Materials 13 November 2018 19:59

Baku, Azerbaijan, Nov. 13

By Elnur Baghishov - Trend:

Saderat Bank of Iran has provided $380 million to Sabalan Petrochemical Industries Co. to support domestic production of over 1.6 million tons of methanol per year and thus created conditions for employment of over 300 people, the bank’s website reported.

With the joint use of gas fields by Iran and Qatar in the Persian Gulf, a project to produce 1.6 million tons of methanol per year has been launched with the participation of Saderat Bank of Iran.

A 76 percent progress has been so far achieved in the project.

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